White Collar Crime: Your Business Might Suffer From It
You should already be aware the criminals come in all shapes and sizes, and you can’t even trust no matter which class spectrum they come from. People with suits on and are working behind desks could be very well engaged in various crimes. Their crimes are not necessarily violent, but the fact that they’re committing crime, it’s really still the same. If this happens, it will only cause some serious effects to both the economy and your business. The kind of crime this article is talking about is known as the white collar crime, which involves finance capabilities and abuse of business.
You might be thinking right now that this has nothing to do with you because your employees all seem to look like angels.
Well, you can’t really be too sure, can you?
It is crucial that you learn more regarding the oft-overlooked aspect of law. Getting yourself informed regarding these things is the best way for you to make sure that your business doesn’t get into trouble with the law.
Below are the types of crimes that are involved.
What do you think is the most common crime that small businesses are involved in? It’s actually fraudulent bookkeeping that leads to tax evasion. However, there are some forms of tax evasions that may be classified technically as legal because of some legal loopholes. There’s also this asset retention made for the purpose of criminal conversion, making it the reason for embezzlement lawyers to be busy. There is also what is known as payroll fraud, wherein a business incorrectly lists an employee just so they can avoid paying them what they actually deserve. This type of crime is committed by businesses if they’re not really that strict with their employee records.
What you should do whenever your business is accused or investigated
What you should know about white collar crimes is that even if they’re nonviolent crimes, they’re still going to be treated just like any other crimes. As a matter of fact, there are quite a lot of people serving life sentences just because they’re charged with these sorts of crimes. Although there aren’t really that many people getting jailed because of this, they’re still guaranteed to pay hefty fines on top of many other business penalties. Agencies investigating such crimes are surely not pushovers which is why you have to make sure that you cooperate fully and that you be able to gather every evidence you got just so they can clear you. But most importantly, you have to get a good lawyer.
Monitoring your employees
If you’re the employer of a an insurance or any financial business, you have to make sure you’ve actually done background checks on your employees. One thing that you have to make sure is to hire a trustworthy accountant who can actually keep an eye for any suspicious data as well as any discrepancies.
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